Stocks Rise; Economy OK
STOCKS RISE; ECONOMY OK
The headline: Dow Resumes Climb For Week With 58 Point Gain on Strong Retail Sales, Economic Data.
Dylan Ratigan explains that The Dow closed higher 3 out of 4 days ahead of Friday’s crucial Jobs Report.
Guy Adami tells the panel that The Jobs report could leave The Fed “in a box.”
Jeff Macke believes a strong Jobs number will mean no rate cut from The Fed. He thinks The Street wants to see a bad number (to get a rate cut).
Karen Finerman says she’s hoping the number is somewhere in the middle.
BACK TO SCHOOL BLOWOUT
The headline: Brisk Back-To-School Business Leads To Surprisingly Strong August Sales.
Jeff Macke tells the panel that Wal-Mart (WMT), Target (TGT), Nordstrom (JWN), and Saks (SKS) all topped The Street’s expectations. However, he feels expectations weren’t so high.
Pete Najarian tells the panel to forget about Wal-Mart.
Jeff Macke agrees.
THE $700 CLUB
The headline: Gold Closes Above $700 For 1st Time Since May 2006.
Guy Adami explains that gold is jumping because investors are seeking a safe haven. He also thinks gold is pricing in a Fed rate cut and if it doesn’t come, he tells investors to beware.
SOUR APPLE CUSTOMERS
The headline: Apple (AAPL) Offers $100 Credit To iPhone Buyers Angry Over Yesterday's Price Cut.
Once again, Jeff Macke reminds the panel that he doesn’t like Apple stock. He feels Apple is now in uncharted territory (with a price cut) and he recommends selling.
Karen Finerman agrees with Jeff Macke.
Pete Najarian feels differently. He believes iMac sales will drive Apple stock higher.